https://www.taxtmi.com/caselaws?id=34329 An assessee qualifies as an industrial company only if it is itself engaged in the manufacturing activity required by the statutory definition; mere investment in, or holding of shares in, a manufacturing concern is insufficient. On that test, an assessee that did not carry on the specified manufacturing activity was not entitled to the concessional tax rate available to industrial companies, and the reference was answered against the assessee and in favour of the Revenue. en-us Mon, 10 Aug 2009 00:00:00 +0530 Wed, 07 Sep 2011 17:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=34329 An assessee qualifies as an industrial company only if it is itself engaged in the manufacturing activity required by the statutory definition; mere investment in, or holding of shares in, a manufacturing concern is insufficient. On that test, an assessee that did not carry on the specified manufacturing activity was not entitled to the concessional tax rate available to industrial companies, and the reference was answered against the assessee and in favour of the Revenue. Case-Laws Income Tax Mon, 10 Aug 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=34329